Sumitomo to Build Three Solar Stations in Japan With SMBC Loans

Sumitomo Corp. (8053), a Japanese trading
company, will build three solar power stations in Japan with a
combined capacity of 49 megawatts.

Sumitomo Mitsui Banking Corp. will provide project
financing, according to a joint statement released today. The
stations are estimated to cost about 18 billion yen ($180
million) in total.

One plant will be built in the northern prefecture of
Hokkaido, in which Japan Petroleum Exploration Co. will also
invest. Two will come up in Ehime and Fukuoka in southwestern
Japan, according to the statement.

The plants will be completed by April 2015, according to
the statement.